With the help of fake bills etc., the government has got another big success in a month-long campaign against mafias who defrauded GST revenue.
The Mumbai team of Directorate General of GST Intelligence (DGGI) has arrested a chartered accountant who was running a racket of stealing GST from the government by creating 50 fake companies. This is the fifth chartered accountant to be arrested in this operation that began in the second week of November.
According to revenue department sources, the team of Mumbai West Commissionerate Zone of DGGI arrested Chandraprakash Pandey, a chartered accountant. Pandey was doing circular trading through his company M / s CP Pandey & Associates.
For this, he has made 50 fake companies at the same address in the name of himself and his family, who used to issue fake bills without supplying any goods from here to there, due to which his client got input tax credit (ITC) with the government. Used to earn money while claiming for.
Sources say that till now Chandra Prakash Pandey through his fake companies had recovered about Rs 10.60 crore from the ITC government. Sources say that with the help of Pandey, many companies have been able to take loans from banks by increasing their turnover through a fake input tax credit.
Earlier, during this campaign which has been going on for a month, the DGGI has arrested Ankur Garg, a chartered accountant from Ludhiana, PVV Satyanarayana, and Bondalapati Srinivasa Rao of Hyderabad, and Akshay Jain of Visakhapatnam, who are doing the same fraud.
140 arrested for stealing GST from fake bills
The Directorate General of GST Intelligence (DGGI) arrested 140 people who fabricated fake bills in a month-long operation and registered 1488 cases. According to sources, 4839 fake companies have also been identified during the campaign which started from the second week of November, through which GST theft was being carried out.
Ludhiana-Jalandhar transporters and Delhi companies on the radar
Sources said that there are still some companies in Delhi and Himachal on DGGI's radar, against whom the investigation is being done in case of showing low prices of their goods and sending them through transporters of Ludhiana and Jalandhar.
The raids and surveys conducted by the DGGI teams in Ludhiana, Delhi, Himachal, and Jalandhar have seized a lot of material that has no written details.
Sources say that Golden Transport Service of Ludhiana and MNK Transport Company of Jalandhar has been found at the forefront of showing low weight and low price of goods. A raid at Golden Transport also seized a variety of goods which were confiscated.
Preliminary investigation has found that e-way bills are being cut by showing 20 to 30 percent less than the price of the goods. Such items mostly include footwear, plastic sleepers, tobacco, shaving foam, etc.